You may want to read the following before you buy:The...

You may want to read the following before you buy:

The consultation process between Batero company and Embera Karambá community has come to a standstill. I can expect LCL to likely face the same barriers as Batero is experiencing right now. This was mentioned in Batero's MANAGEMENT’S DISCUSSION AND ANALYSIS 2023:

"It was agreed between Minera Quinchia and Embera Karambá, and with the approval of the Minister, to carry out and
schedule technical work groups to review and agree on a proposed methodological path. As a result, technical work
groups were scheduled during which the Company again presented and explained its proposed methodological path in
detail. The community decided to review the Company’s presentation and prepare a counterproposal. On August 15,
2023, the Dirección la Autoridad Nacional de Consulta Previa convened a meeting, but representatives from the
Embera Karambá community did not attend. The Ombudsman's Office proposed mediation through a technical
roundtable on September 5, 2023, but was unable to agree on a date for the pre-consultation and opening meeting."

Or I should say this is Embera Karambá community's strategy to resist mining company from exploiting their resources.

Furthermore, LCL has contingent liabilities as indicated in LCL Half Year Financial Report:

"The Company is aware that a former director and chief executive officer of one of the Company’s subsidiaries (MirafloresCompania Minera SAS (previously Minera Seafield SAS)) previously lodged a claim with the Labour Court in Medellin,Colombia (Juzgado Laboral del Circuito de Medellin) seeking termination payments, unpaid bonus payments anddamages in the amount of 4.5 billion Colombian Pesos (approximately US$1 million as at 30 June 2023)..."

It is possible that LCL has to pay the former director and chief executive officer of MirafloresCompania Minera SAS about US$1 million (about $1.5 million AUD). This means that there might be less fund available for the nickel exploration in PNG.

Speaking of nickel, the price of nickel continues to struggle in low. It has hit their lowest point since April 2021, with a 45% year-to-date drop. This has forced the Panoramic Resources (a nickel mining company in WA) to go insolvency, and their nickel mining operation is suspended. Under this unfavourable circumstances, LCL will have to wait until June 2024 the latest to start their nickel exploration (as reported in announcement 7/12/23). Not to mention about the recent violent riots in Papua New Guinea, which could affect LCL's exploration plan in 2024. The sovereign risk is real if the capital unrest in PNG remains unresolved, and spreads to other parts of PNG.